Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target Cut to $27.00 by Analysts at The Goldman Sachs Group

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) had its price objective decreased by equities researchers at The Goldman Sachs Group from $39.00 to $27.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 234.57% from the company's previous close.

DAWN has been the topic of a number of other reports. Wedbush reaffirmed an "outperform" rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price target on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Needham & Company LLC reiterated a "buy" rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Bank of America lowered their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Finally, HC Wainwright reduced their price target on Day One Biopharmaceuticals from $40.00 to $36.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $32.29.

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Day One Biopharmaceuticals Trading Down 1.5 %

NASDAQ:DAWN traded down $0.12 during trading hours on Tuesday, hitting $8.07. 598,146 shares of the stock traded hands, compared to its average volume of 1,098,893. The firm has a 50 day moving average price of $10.60 and a 200 day moving average price of $12.61. The firm has a market cap of $817.93 million, a price-to-earnings ratio of -7.83 and a beta of -1.38. Day One Biopharmaceuticals has a fifty-two week low of $7.88 and a fifty-two week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The company had revenue of $29.21 million during the quarter, compared to analysts' expectations of $27.11 million. Research analysts predict that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Activity

In related news, General Counsel Adam Dubow sold 4,646 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the sale, the general counsel now directly owns 39,602 shares of the company's stock, valued at approximately $473,639.92. This represents a 10.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $144,094.08. Following the completion of the transaction, the chief executive officer now owns 128,015 shares in the company, valued at $1,531,059.40. The trade was a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,064 shares of company stock valued at $251,925. Insiders own 8.40% of the company's stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of hedge funds have recently bought and sold shares of DAWN. FMR LLC increased its stake in shares of Day One Biopharmaceuticals by 73.9% in the fourth quarter. FMR LLC now owns 12,887,467 shares of the company's stock worth $163,284,000 after purchasing an additional 5,475,087 shares during the period. Braidwell LP increased its position in Day One Biopharmaceuticals by 60.5% in the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company's stock worth $67,893,000 after buying an additional 1,837,949 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company's stock worth $49,197,000 after buying an additional 13,320 shares during the last quarter. Estuary Capital Management LP boosted its position in shares of Day One Biopharmaceuticals by 35.5% in the fourth quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company's stock valued at $47,092,000 after acquiring an additional 972,997 shares during the period. Finally, Pictet Asset Management Holding SA grew its stake in shares of Day One Biopharmaceuticals by 17.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company's stock worth $44,219,000 after acquiring an additional 507,398 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.

About Day One Biopharmaceuticals

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.